Usury rates are state-specific.
Monthly, the Department publishes the usury for the upcoming month. The usury rate is the maximum rate of interest which may be charged for loans of money by non-regulated lenders. The rate is equal to five and one half percent (5.5%) higher than the current cost of money as reflected by the average rate of interest payable on U.S. Treasury Bills maturing within six months; but in any event the maximum allowable interest rate ceiling may not be less than seven (7) percent. This limit does not apply to:
- Loans made to a foreign or domestic corporation; a foreign or domestic limited liability company; a cooperative corporation or association; a trust; or to a partnership; limited partnership, or association which files a state or federal partnership income tax return.
- Loans or forbearance of money, goods, or things in action the principal amount of which amounts to more than $35,000.
- Loans made by a lending institution which is regulated or funded by an agency of a state or of the federal government.
- A bona fide pawnbroking transaction.
Current Usury Rate (last update: February 1, 2024)
If you would like to learn more about usury laws in North Dakota and other states, refer to the Consumer Finance Laws Survey conducted by the Conference of State Bank Supervisors: Consumer Finance Laws Survey (https://www.csbs.org/50-state-survey-consumer-finance-laws)